On Friday, September 23, a very popular crypto analyst said, XRP explained why its price has performed so well in recent weeks.
Koinfinans.com As we reported earlier, XRP has recorded massive gains in the past few days, gaining more than 50% in a week.
Crypto analyst and well-known YouTuber Ben Armstrong (aka “BitBoy Crypto”) told his more than 888k Twitter followers about what drives the value of XRP. comment made. Armstrong said that XRP is on the rise for multiple reasons. But the analyst basically believes that XRP has risen over 50% in the last week as the SEC has given up on its quest to prove the coin is a security.
Moreover, even if Ripple loses this case, XRP investors need not worry too much, as the penalty is unlikely to be anything but a fine (which Ripple could easily pay off, of course).
Armstrong, who has long been bullish on XRP, thinks that once the SEC’s lawsuit is over (especially if Ripple wins), investors in XRP will be “rewarded” for their “patience.”
Besides, it is noteworthy that XRP has recovered after Ripple and SEC submitted their motions for summary judgment, suggesting that the end of the case is closer than expected.
Moreover, several subsequent cryptocurrency The lawyer reviewed the latest filings to find out which of the parties could win the case.
In a lengthy Twitter thread, attorney John Deaton summed up the SEC’s move, implying that the commission could not prove that XRP was a security.
Furthering my tweet discussion w/ @MoonLamboio @Belisarius2020 @attorneyjeremy1 etc.,
THIS IS THE BASIC SUMMARY JUDGMENT ARGUMENT BY THE @SECGov:
“The economic reality: @Ripple funded its business by touting XRP’s profit potential, selling and distributing XRP https://t.co/lStUz1UxWP
— John E Deaton (216K Followers Beware Imposters) (@JohnEDeaton1) September 23, 2022
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.